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PLEASE HELPPPP A company purchased furniture on January 1. Its cost was $24,000, and it had a residual value of $1,600. Its useful life is

PLEASE HELPPPP
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A company purchased furniture on January 1. Its cost was $24,000, and it had a residual value of $1,600. Its useful life is determined to be 5 years. Using 5 double-declining balance depreciation, the depreciation for year 1 to the nearest dollar will be A. 59,600 OB $8,950 OC. 54,800 OD. $4.480

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